Книжка. Завдання до практичних занять
 Скачать 141.6 Kb.
|
|
UNIT 8 Topic: Money and Banking Sector Vocabulary commodity – товар; in exchange for - в обмін на; intrinsic value - внутрішня вартість to consist of - складатися з; paper bills - паперові банкноти; coins– монети; medium of exchange - засіб обміну; measure of value - мірило вартості; store of value - засіб заощадження; hard money - конвертована валюта; soft money - банкноти, паперові гроші; assets– активи; fiat money - нерозмінні гроші (незабезпечені золотом); currency – валюта; authority– влада; substitute money - замінники грошей; current account - поточний рахунок; salary - заробітна плата; wage - заробітна плата( виплачується щоденно, раз на тиждень); to withdraw - знімати гроші з рахунку; bank statement - баланс банку, виписка з банківського рахунку; savings account - ощадний рахунок; interest– відсоток; mortgage– застава; income tax - податок на прибуток; inheritance tax - податок на спадщину; to accept deposits - приймати депозити; loan– позика; to arrange mergers - організовувати злиття; acquisitions - поглинання ( компанії). Read the text and be ready to further discussion. Money is anything that is generally accepted by people in exchange for the things they sell or the work they do. The first instances of money were objects with intrinsic value. This is called commodity money. But today, money consists mainly of paper bills, coins made of various metals, and checking account deposits. Money is usually defined by its function when it serves as: 1) a medium of exchange that functions as legal tender; 2) a measure of value; 3) a store of value. As a medium of exchange money is something generally accepted as payment for goods and services. As a measure of value money shows a particular denomination or form of currency silver money, what something is worth. In terms of a store of value money demonstrates the property or assets with reference to their realizable value in the future. People do distinguish between three types of money: hard money, soft money and no-money. Hard money is a monetary standard such as gold, silver, or platinum treated as hard assets with real universal value. Soft money is paper money backed by hard money. No-money is paper money backed by nothing of value. It is also called fiat money. The term ‘fiat’ means by government order. People are willing to accept fiat money in exchange for the goods and services they sell only because they know it will be honoured when they go to buy goods and services. The examples of fiat money are bills and coins that we use today – collectively known as currency. So, money is the official currency, in the form of banknotes, coins, etc., issued by a government or other authority. Ever country has its own special currency. In the United States of America, for example, the basic unit is the US dollar. Canada uses the Canadian dollar, France uses the franc, in Great Britain the pound is the currency in Japan – the yen, in Mexico – the peso, in Ukraine – the hrivnya. Every day the rates of exchange are published. There exist many forms of substitute money – bank accounts, credit cards, plastic cards, traveller’s cheques. So, when people are asked how they want to pay, they usually answer: ‘cash/ by cheque/ by credit card’. In a bank people usually have a current account, which is one where they pay in their salary and then withdraw money to pay their everyday bills. The bank sends their clients a regular bank statement telling them how much money has gone in and out of their account. There can also be a savings account where people deposit any extra money and take it out when they want to spend it on something special. When people spend more than they have in their account, they have an overdraft. Then the bank charges interest from an overdrawn account. When the bank lends the money it is called a bank loan. The loan for buying accommodation (a flat or a house) is called a mortgage. The personal finance is connected with the public finance. By the latter is meant the money collected by the government from citizens through taxes. Income tax is the tax collected on wages and salaries. Inheritance tax is collected on what people inherit from others. Value added tax (VAT) is a tax paid on most goods and services when they are bought or purchased. The banking sector in the United Kingdom, for example, is made up of a variety of institutions supervised by the country’s central bank, The Bank of England. This bank looks after the government’s finance and monetary policy and acts as banker to other banks. However, for the general public and many businesses, banking services are provided by commercial banks, or clearing banks, which have branches throughout the country. These banks offer a wide range of services which include accepting deposits, making loans and managing customers’ accounts. Merchant banks, on the other hand, do not deal with the public but specialize in services for companies or corporate customers. They are particularly active in arranging mergers and acquisitions and in advising on aspects of corporate finance. Answer the following questions: What is money? What is called commodity money? What does money consist of? What are the functions of money? What types of money do you know? Define them. What does term ‘fiat’ mean? What are the examples of fiat money? Does every county have its own special currency? Prove it. What are forms of substitute money? What accounts can people have in a bank? Define them. What functions do central bank perform? What do merchant banks specialize in? What kind of institution is a commercial bank? ІІ. Suggest the Ukrainian for the following words and word combinations from the text: In exchange for; checking account; a medium of exchange; denomination or form of currency ; a measure of value; backed by; a current account; withdraw money; extra money; have an overdraft; the bank charges interest; a bank loan; a mortgage; inheritance tax; supervised by the country’s central bank; arranging mergers and acquisitions; banking services; a store of value; real universal value. ІІІ. Complete the following sentences using the information in the text: Money is anything that…. Money is usually defined by…. As a medium of exchange money is… As a measure of value money… In terms of a store of value money… Hard money is… Soft money is… No-money is… In a bank people usually have… Then the bank charges interest… Income tax is… Inheritance tax is… IV. According to the text, are the following statements true or false? If they are false, give the correct statement: The first instances of money were coins. Money is usually defined by its value. As a medium of exchange money demonstrates the property or assets with reference to their realizable value in the future. As a measure of value money is something generally accepted as payment for goods and services. Soft money is paper money backed by hard money. Hard money is paper money backed by nothing of value. The examples of fiat money are bills and coins that we use today – collectively known as currency. The bank never charges interest from an overdrawn account. The loan for buying property is called a mortgage. Inheritance tax is the tax collected on wages and salaries. Income tax is collected on what people inherit from others. Merchant banks deal with the public. The banking sector in the United Kingdom is made up of a variety of institutions supervised by the country’s central bank. Commercial banks are particularly active in arranging mergers and acquisitions and in advising on aspects of corporate finance. Match the definitions with the terms:
Match the sentences halves: Earnings per share are A forecast is Bankruptcy is A dividend is Pre-tax profits are Revenues a part of profits of a company paid to the owners of shares. a company’s profits divided by the number of its shares. a description of what is likely to happen. money which businesses receive from selling goods or services. when a person or organization is unable to pay their debts. the money a business makes before payment to the government. Complete this report with the terms from Exercises V and VI: In our home market it has been another excellent year. 1)….. are up by &23 million, and the 2)….. for the next quarter is equal good. Profits from abroad are down because of a 3)…. In Japan. However, our performance overall has been good, and the 4)….. have increased to 26.4 p and the 5)….. will be increased to 4.3p per share, which will please our shareholders. We plan to issue new 6)….. in order to finance expansion in Asia. We also plan to increase our 7)….. in plant and equipment before entering the Chinese market. We are particularly pleased with our performance in France and Germany where 8)….. have increased of 40 percent on our main product line. We will use any extra cash to reduce the level of our 10)….. . Our performance in Italy should improve significantly following the 11)….. of our biggest competitor. However, we should not become too satisfied with our share price as economic conditions remain uncertain and the 12)….. will continue to reflect this. Share prices will not rise in the short term. Fill in the gaps with a word or phrase from the box:
We have to pay our bills too… in my opinion! A country’s ….. is the government bank. The ….. are the highest street banks that everyone uses. When a loan is taken out, usually each month ….. have to be made. A…. is a special loan for people who want to buy a house. When you feel….. you feel sure that what you are doing is safe. Many people these days buy things on ….. instead of paying in cash. A large ….. of people use banks to deposit their savings. The ….. compares the values of different currencies. If a company wants to ….., to move into new markets for example, it will need to borrow money. High interest rates have an on the consumer’s ability to buy a new home. Match up these terms with the definitions below: cash card cash dispenser (GB) or ATM (automated teller machine) (US) credit card home banking loan mortgage overdraft standing order or direct debit current account (GB) or checking account (US) deposit account (GB) or time or notice account (US) a) an arrangement by which a customer can withdraw more from a bank account than has been deposited in it, up to an agreed limit; interest on the debt is calculated daily. b)a card which guarantees payment for goods and services purchased by the cardholder, who pays back the bank or finance company at a later date. c) a computerized machine that allows bank customers to withdraw money, check their balance, and so on. d) a fixed sum of money on which interest is paid, lent for a fixed period, and usually for a specific purpose. e) an instruction to a bank to pay fixed sums of money to certain people or organizations at stated times. f)a loan, usually to buy property, which serves as a security for the loan. g)a plastic card issued to bank customers for use in cash dispensers. h) doing banking transactions by telephone or from one's own personal computer. i) one that generally pays little or no interest, but allows the holder to withdraw his or her cash without any restrictions. j)one that pays interest, but usually cannot be used for paying cheques (GB) or checks (US). Match up the words and nouns to make collocations: charge advice do bonds exchange business issue currencies make deposits offer funds pay interest raise loans receive profits underwrite security issues РОЗДІЛ 4.Тестові завдання для самоперевірки Pronouns: Underline the correct word. Mark is ( their, theirs) son. This is our car. It is (our, ours). These are Mary’s books. They are (her, hers). Blue is (my mine) favourite colour. You can’t have this book. It isn’t (your, yours). (Her, hers) house is big. Is this (your, yours) coat? No, it isn’t (my, mine). Are these pens Liz and Bob’s? Yes, they are ( their, theirs). This is father’s car. It is ( his, hers). That is ( our, ours ) house. It is (our, ours). Choose the right pronoun to correctly finish this sentence: 1._________ need to follow me closely. A) You B) He C) She D) It 2. Lewis, Luke and Thomas were cross because ________ had waited ages for the bus. A) them B) he C) they D) it 3. Palvinder watched the children carefully as _________ crossed the road. A) them B) him C) they D) us 4. Hold the bag please while I put the shopping in ________ . A) him B) it C) she D) I 5. Melanie and I are going soon so you can come with _________ . A) we B) them C) they D) us 6. Thank you for collecting ________ . A) me B) he C) she D) they 7. I wonder why Geoff rushed off. Did you upset _______ ? A) he B) him C) we D) they 8. _______ hope those flowers are for me. A) We B) Them C) I D) Him 9. Open the door. It's ______ . A) I B) they C) me D) she 10. Sarah wanted Lisa to follow ________. A) she B) they C) I D) her Comparisons Choose the most appropriate answer. It's better ____ I thought. as then than like 2. Brazil is _____ England. biger than bigger as bigger than biger as 3. She is _____ in the class the best best better than as good as 4. I'm not as successful ___ she is. as like than then 5. It was ______ expensive restaurant I've ever been to. more the more most the most 6. I'd like some ____ information. farther further furthest the furthest 7. It's ____ art collection in Europe. finer finest the finer the finest 8. It was ____ than I was expecting. cheaper cheapest the cheapest more cheap 9. This is the ______ kitchen I've ever seen. dirtiest dirtiest the dirtiest dirtier 10. Which is ____ of the two? more difficult most difficult much more difficult the most difficult 11. She finished ____ than everyone else. more quickly quicker the most quickly more quick Nouns Underline the correct item. 1. All of his belongings was/were in one small suitcase. 2. Soccer is/are a popular game in England. 3. Aerobics do/does you a lot of good. 4. Chocolate makes/make you put on weight. 5. Most people enjoy/enjoys Christmas. 6. The police is/are looking for him. 7. Fish is/are easy to look after as pets. 8. The economics I learnt at school is/are out of date now. 9. Measles is/are a children’s disease. 10. The information I got was/were very helpful. Present Forms Choose the correct item: 1. My sister’s hair … very long. a) are b) is c) were 2. Jane … her hair at the moment. a) is having b) has c) was having 3. My brother … for a large company. a) is working b) works c) has worked 4. John … very polite to the people these days. a) has been b) is being c) has been being 5. … the film? a) Do you enjoy b) Have you enjoyed c) Are you enjoying 6. We usually … out on Saturdays evenings. a) are going b) go c) have been going 7. ……….. to see that film that is on at the cinema next week? a) Do you go b) Is you going c) Are you going 8. Later tonight I ……….. my uncle, who is ill in hospital. a) visit b) am visiting c) are visiting 9. I …………… to remember your name but I am afraid I can’t remember it. a) try b) am trying c) will trying 10. She … her homework right now. a) is always doing b) is doing c) does Prepositions 1. Where did you go … holiday last year? a) in b) on c) at 2. The teacher told us a story … the end of the lessons. a) in b) on c) at 3. We are going to the beach … the weekend. a) in b) on c) at 4. We’re going to drive to the country … . a) at b) in c) on 5. You must finish this work … 7 o’clock. a) until b) on c) by 6. Betty taught English … she was in Turkey. a) during b) while c) until 7. Susan wasn’t sure about taking the job, but … the end she accepted it. a) in b) at c) on 8. I love going to the cinema … the winter. a) in b) at c) on 9. … the beginning of the film there is a huge storm. a) in b) on c) at 10. We have a lot of fun … Christmas Day. a) on b) at c) in |